Exploring CBN's New Electronic Transactions in the Foreign Exchange Market
Thursday, 3 October 2024, 12:06
CBN's Innovative Move in Electronic Transactions
The Central Bank of Nigeria (CBN) has announced a groundbreaking initiative aimed at modernizing electronic transactions within the foreign exchange market.
Implementation Timeline
The new system is scheduled for a complete rollout by December 01, 2024. Prior to that, it will undergo a critical two-week testing phase in November to ensure smooth operation.
Impact on the Market
This transformation is expected to enhance efficiency in transaction processing, benefiting all stakeholders involved in the foreign exchange market.
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